We should bounce back up tomorrow, but I do believe it will rollover and tank even harder on the next sell off. We are likely starting the first smaller wave of a larger wave 3 down. Nothing bullish here that I can see, and I’m trying to be bullish… but it’s just not there. The weekly and monthly are bearish and I just don’t see the market breaking out hard out of this triangle.
While it’s possible (slim chance now) that we rally back up tomorrow to re-hit that upper trendline on this triangle, it’s not likely to do it. I’m expecting a 38.2% to 50% retracement bounce tomorrow morning at the most. Then a rollover HARD and a BIG wave 3 down into the afternoon and close of tomorrow. Friday could be worst?
Looks like Tk over at Slope Of Hope brought up that The Wall Street Journal is talking about Super Bullish Triangle. You know what that means. It won’t happen.
Come on Gerb, You are amongst friends. Spill the beans, we wont tell any one else about your source.
and for your own sanity, if you see a big move. consult a fib fan.
here, use mine!
http://i40.tinypic.com/8xoown.png
I’m expecting a bounce tomorrow, but I agree that it’s only another shorting opportunity. This PIG looks roasted too me! LOL
I know two of them.
one managed to do damage control, the other stated – ‘you have to learn how to lose’.
it’s Lehman magnitude IMHO.
my deep-throat source says some low late NOV.
New Low 2nd week January.
(secret, hush hush, you understand).
Good advice.
We should bounce back up tomorrow, but I do believe it will rollover and tank even harder on the next sell off. We are likely starting the first smaller wave of a larger wave 3 down. Nothing bullish here that I can see, and I’m trying to be bullish… but it’s just not there. The weekly and monthly are bearish and I just don’t see the market breaking out hard out of this triangle.
While it’s possible (slim chance now) that we rally back up tomorrow to re-hit that upper trendline on this triangle, it’s not likely to do it. I’m expecting a 38.2% to 50% retracement bounce tomorrow morning at the most. Then a rollover HARD and a BIG wave 3 down into the afternoon and close of tomorrow. Friday could be worst?
Just remember the SPY close, forget everything else. Short the highs, cover SOME at the lows, build a big position for FREE.
Looks like Tk over at Slope Of Hope brought up that The Wall Street Journal is talking about Super Bullish Triangle. You know what that means. It won’t happen.
http://slopeofhope.com/2011/11/triangle-man.html
Been studying DAX; two hollow red candles consecutively seem to be consistently followed by a FAT RED candle. Let’s see what happens.